La. Admin. Code tit. 43 § XXXI-123

Current through Register Vol. 50, No. 11, November 20, 2024

Section XXXI-123 - Monitoring NRD Restoration Banks

A. The restoration bank plan must address the monitoring requirements for the NRD restoration bank, including those objectives and factors set out in 15 CFR § 990.55(b)(2) and (3), as well as the parameters to be monitored, the length of the monitoring period, the party responsible for conducting the monitoring and submitting reports, and the frequency for submitting monitoring reports to the BRT. Performance criteria for an NRD restoration bank will be determined during the consultation between the BRT and the sponsor following the submittal of the prospectus and must be specified in the restoration bank plan. The performance criteria will be used to assess whether the NRD restoration bank is achieving its restoration objectives, including to determine release of restoration credits and release of financial assurances consistent with these regulations.

B. The submission of monitoring reports to assess the development and condition of the NRD restoration bank is required. Monitoring the NRD restoration bank is necessary to determine if the NRD restoration bank is accomplishing its restoration objectives, if performance criteria are being met, and, if not, what corrective action is necessary to ensure that those criteria are met. The content and level of detail for monitoring reports will be determined during the consultation period following the submittal of the prospectus and must be commensurate with the scale and scope of the NRD restoration bank. The monitoring reports may include plans (such as as-built plans), maps, and photographs to illustrate site conditions. Monitoring reports may also include the results of structural, functional, temporal, and other assessments used to provide quantitative or qualitative measures of the functions provided by the bank. The sponsor is responsible for submitting monitoring reports at a frequency determined by the BRT. Monitoring reports must be provided by the BRT chair to interested federal, tribal, state, and local resource agencies, and the public, upon request. The BRT may conduct site inspections upon providing notice to the bank sponsor to evaluate NRD restoration bank performance.

C. The restoration bank plan must provide for a monitoring period that is sufficient to demonstrate that the NRD restoration bank has met its restoration objectives and performance criteria. Upon a determination that the NRD restoration bank has achieved its objectives and performance criteria, the BRT may reduce or waive the remaining monitoring requirements. Conversely, the BRT may extend the original monitoring period upon a determination that performance criteria have not been met or the bank is not on track to meet them. The BRT may also revise monitoring requirements when corrective action is required.

La. Admin. Code tit. 43, § XXXI-123

Promulgated by the Office of the Governor, Coastal Protection and Restoration Authority, LR 431359 (7/1/2017).

AUTHORITY NOTE: Promulgated in accordance with R.S. 49:214.5.2.